Samsung Life to launch MBS deal next week

Insurance company will bring new asset class to Korea cross-border market with $465 million deal.

Korea's biggest insurance company, Samsung Life Insurance, will soon bring some welcome diversity to the cross-border securitization market with the launch of the eagerly awaited first international mortgage backed deal to come out of the country. Morgan Stanley is acting as lead manager on the $465 million transaction with Lehman Brothers and Samsung Securities brought in as co-arrangers.

A banker close to the deal said that roadshows have already been conducted in the major financial centres in Asia, Europe and...